397,530 Shares in Champion Homes, Inc. $SKY Acquired by William Blair Investment Management LLC

Key Points

• William Blair Investment Management acquired 397,530 Champion Homes shares worth approximately $35.0 million, representing about 0.73% of the company. Other major institutions, including BlackRock and Wellington Management, also hold substantial positions.
• Champion Homes reported quarterly revenue of $710.2 million, up 1.3% year over year, and adjusted earnings of $0.88 per share, slightly exceeding analyst expectations.
• Analyst sentiment is favorable, with a consensus “Moderate Buy” rating and an average price target of $104, compared with the stock’s reported opening price of $90.44. However, company insiders sold shares during the quarter.

William Blair Investment Management LLC acquired a new position in shares of Champion Homes, Inc. (NYSE:SKY - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 397,530 shares of the company's stock, valued at approximately $35,030,000. William Blair Investment Management LLC owned about 0.73% of Champion Homes as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Champion Homes in the 2nd quarter worth $794,354,000. Wellington Management Group LLP boosted its position in shares of Champion Homes by 7.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,800,562 shares of the company's stock valued at $366,619,000 after acquiring an additional 333,666 shares during the last quarter. Wasatch Advisors LP grew its holdings in shares of Champion Homes by 0.4% in the second quarter. Wasatch Advisors LP now owns 2,747,516 shares of the company's stock valued at $242,111,000 after purchasing an additional 10,749 shares during the period. State Street Corp grew its holdings in shares of Champion Homes by 4.0% in the second quarter. State Street Corp now owns 2,579,091 shares of the company's stock valued at $161,477,000 after purchasing an additional 98,659 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Champion Homes by 4.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,736,164 shares of the company's stock worth $129,111,000 after purchasing an additional 80,531 shares during the last quarter.

Champion Homes Price Performance

Shares of SKY opened at $90.44 on Friday. The firm has a 50-day simple moving average of $85.46 and a two-hundred day simple moving average of $81.32. The stock has a market cap of $4.91 billion, a PE ratio of 26.37 and a beta of 1.01. Champion Homes, Inc. has a 1-year low of $63.69 and a 1-year high of $99.17. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.74 and a quick ratio of 1.97.

Champion Homes (NYSE:SKY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.87 by $0.01. Champion Homes had a net margin of 7.16% and a return on equity of 12.52%. The firm had revenue of $710.23 million for the quarter, compared to analyst estimates of $701.98 million. During the same period in the prior year, the business posted $1.19 EPS. The business's revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, analysts forecast that Champion Homes, Inc. will post 3.4 EPS for the current year.

Wall Street Analysts Forecast Growth

SKY has been the topic of a number of analyst reports. Barclays lifted their target price on shares of Champion Homes from $102.00 to $109.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Citigroup assumed coverage on shares of Champion Homes in a research note on Friday, June 5th. They issued a "buy" rating and a $93.00 price target for the company. Royal Bank Of Canada raised their price target on shares of Champion Homes from $92.00 to $99.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Weiss Ratings raised shares of Champion Homes from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 7th. Finally, Zelman & Associates raised shares of Champion Homes from a "hold" rating to an "outperform" rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Champion Homes currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.00.

Insider Buying and Selling at Champion Homes

In other Champion Homes news, Director Erin Claire Helgren sold 1,100 shares of the company's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $95.00, for a total transaction of $104,500.00. Following the transaction, the director directly owned 8,196 shares in the company, valued at $778,620. This represents a 11.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael B. Berman sold 1,500 shares of the firm's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $93.22, for a total value of $139,830.00. Following the transaction, the director owned 6,825 shares of the company's stock, valued at approximately $636,226.50. This represents a 18.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 14,522 shares of company stock valued at $1,147,665 over the last quarter. 0.60% of the stock is owned by company insiders.

Champion Homes Company Profile

Champion Homes, traded under the NYSE ticker SKY, operates as a leading provider of factory-built housing solutions in North America. The company specializes in the design, manufacture and sale of manufactured and modular homes, serving a broad spectrum of customers from first-time homebuyers to those seeking upscale residential properties. Champion Homes leverages vertically integrated operations to streamline production, ensuring consistent quality and cost efficiencies across its product lines.

The company's product portfolio encompasses single- and multi-section modular homes, manufactured home models, park models and select commercial modular buildings.

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